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on the wealthiest individuals and the economy grew at its fastest rate in a generation. it added more than 22 million jobs. during the following eight years, the top marginal rate dax tax rate was lower, but economy never regained its strength from the reviews decade. middle-class families are vulnerable when the recession began at the end of 2007. i hope this hearing is helpful not just in this hearing, but across this country to people who are watching and waiting for congress to act. i will say more at the end about some of our members who are leaving. it is -- it has been an honor for me to serve as chairman of this committee and also served with my friend, kevin brady, as vice chair. he has been great to work with. i hope there'll be bipartisan success in congress. i look forward to working with him as i change seats in the senate for the next congress. i am grateful to our witnesses, whom i will introduce. before i do that, opening statements. >> i think the chairman for the recognition. this is the concluding hearing from the 112th congress. ,'m behalf of the vice chair kevin brady, on
and boost the economy. mr. benishek: our nation is facing significant challenges. a weak economy, record deficits and a federal government we cannot afford. many northern michigan citizens fear for the future of our republic. the american people deserve solutions to these problems and comprehensive tax reform is a key part of these solutions. president obama has made it clear that his preference is to raise taxes on families and businesses, but that plan won't fix our national debt. it won't improve the economy. instead, congress should focus on tax reform and real significant spending reductions. the american people have chosen divided government, and with that comes a responsibility for us to work together and to fix the pro-our nation faces. i -- the problem our nation faces. i ask my colleagues to help resolve this fiscal crisis and do what's best for the american people. thank you. the speaker pro tempore: the gentleman's time has expired. for what purpose does the gentleman from pennsylvania seek recognition? >> i ask unanimous consent to address the house for one minute. the speak
. and furthermore, his tax proposal will kill about 700,000 jobs and do harm to the economy, again the wrong direction. host: and that was the new g.o.p. conference secretary voicing her thoughts on the fiscal cliff negotiations yesterday. and we want you to address the issue of what the g.o.p. is raising, which is address the spending problem. 202 is the area code for our numbers. that's our question this morning in this first segment of the "washington journal." you can also contact us via social media and email. you can make a comment on our facebook page, and finally send us a tweet. here is the hill newspaper from this morning. g.o.p. forget tax rates in talks on the deficit, let's look at the spending. the speaker's swift rejection of an idea floated by representative tom cole of oklahoma, a respected party strategist and former chair of the house g.o.p. campaign committee came as the republicans voiced increasing concerns over the debate of the so-called fiscal cliff. boehner said it's time for them to get serious about the spending problem that our country has. republicans complain t
. stuart: you agree with me, if this plan, anything like it from the president, were imposed on the economy at this time it would lead to recession. >> i think that the president is fully aware as are democrats and anybody realistic. stuart: you make that judgment. >> i am not a fan, by the way, never have been, i thought the fiscal cliff thing was ridiculous in the beginning. no, no, but prefacing my answer to you. stuart: higher taxes of this magnitude on an economy that's already weak with 8% unemployment, you do that and now it's not-- >> no, no, no, i do not believe that raising the marginal tax rates to the clinton rates for the wealthiest among us-- >> i knew you were going to say that, you're comparing a totally different economy. what we have now is 8% unemployment. very sluggish growth and a trillion dollar deficit every year. you propose to raise taxes in that environment and you're not going to get growth. >> don't you understand you need to off set-- if you're serious about debt reduction, i think you are, don't you understand you need revenue and spending cuts. stuart: and how
will be blamed. remember, this is the obama era. it's going to go down as his economy. i ask people who was speaker of the house during the great depression when roosevelt was president. i'll give a hundred dollars to anyone who can name who the speaker of the house was in the critical first hundred days -- >> jim over there would know. >> henry thomas reigny. now, there's a name in the history books. point being, the speaker is an important player, this is significant, but it is obama's job to lead and define so if there's negative consequences here, particularly in the economy, it's going to be in the obama era, things didn't get fixed. who is it? the australian finance minister who says the united states is one budget deal away from being a great country. there's a lot of people in business who think we are poised to do some really good things in the global economy, the united states is, but if we can't untangle this mess, it's not going to happen. >> you know about the inner workings in the government more than any living person, every single administration of our lifetime. you've b
emerging economy. we asked about the report the government makes for business and enterprise. it is fair to say that his answer has captured the imagination of all political parties that will respond formally in the spring. so here's what we will do now. first, government spending should be alone with the business community. we will provide new money to support the partnerships. from april 2015, the governmental elites one of the funding and get people back to work. the gross funds are having businesses get back into the game. we are going to support businesses and technologies where britain has a clear technology advantage. we will extend our global lead in aerospace and support the supply chain for advanced infection. we've also support british companies to new emerging markets in asia and africa and the americas. and increasing the funding for the uk by over 25% a year. so they can help more firms build the capacity of overseas british chambers and maintain our country's position as the number one destination in europe for foreign investment. we are launching a new 1.5 billion pounds
the cost of healthcare. if we can bring down the cost of healthcare, we can save the economy money. >> would you be willing to see the medicare enrollment age raised? >> all that does is shift the cost to other people. we've got to bring down the cost of healthcare. our economy pay as to much for the healthcare dollars. we've got to get better results. >> is there anything else you can specifically put on the table? i got to press you on this that would hurt you the way raising rates would hurt the public? >> i understand we started with spending cuts. this is part of the debt ceiling debate. we got a trillion dollars discretionary budget cuts that's in the bank. now we're talking about needing a revenue component. yes, we need to bring down the cost of healthcare and we've got to save money in our military. we're bringing our troops home. that's where we can get some savings. we can come up with enough savings to avoid the fiscal cliff now between the revenues and savings. >> the house has left town a few days and say look, there's nothing to do because there's no deal on the tabl
the kinds of revenue from the wealthiest americans to help the economy grow and achieve deficit reduction and this puts us on a path towards a better economy. >> [inaudible question] what will he do at this moment? >> i would simply redirect that question to the republican leaders, who to this day, have not put forward any proposal on how they would achieve revenues and address the issue on the top 2%. there is no other way to do it, there is no other mathematically sound way to do it. making vague promises about achieving revenue through capping deductions were closing loopholes, it simply doesn't add up to a serious proposal. we haven't heard which deductions they would cap or which loopholes they were close. what is true is that other proposals that have been put forward include attempts to raise revenue only through closing loopholes and limited deductions can only achieve this if the middle class gets stuck with the bill. or if you have a proposal that is wildly limply unfeasible because it suggests that we would wipe out charitable deductions. it is simply impossible and getting som
on this debate. this is too important to our economy. it is too important for our families to not get it done. it's not acceptable to me and i don't think it is acceptable to you for just a handful of republicans in congress to hold middle class tax cuts hostage simply because they don't want tax rates on upper income folks to go up. >> then one of those congressmen who's presumably on the president's naughty list today, speaker john boehner, who came out just a few minutes after the president spoke. he talked here on capitol hill a little bit about the stalemate that he sees these talks being at this point. sort of a glum take here from the speaker of the house. obviously he's saying that these negotiations not broken down. they continue to talk but a stalemate is the way he characterizeded that. so tyler, not great news here on capitol hill, but there's another week next week. we'll get another crack at this thing. >> eamon, thanks very much. where do we stand? are we any closer to a deal? we thought we'd give you our little guide with the daily spin on our "rise above" deal meter. as you can s
's transformed and built the economy? federal contracting. from 1980 through 2009 federal contracting in northern virginia increased from $1.7 billion to 38.5 billion, but there's worry the bottom could fall out. >> government contractors stopped doing business in fairfax county because it will be dramatically reduced. >> reporter: these two men were farther of the board meeting this week asking congress to hurry up and resolve the impending sequestration. >> if you make the kind of cuts that some suggest happen are then you're really hurting a lot of the small businesses and residents in fairfax county who rely on federal contracts for their livelihood and ultimately that trickles down to and affects fairfax county. >> reporter: fairfax county pulled in $23 billion in federal contract money in 2009. that's more than any county in the nation and $3 billion more than washington d.c. so what is it about fairfax county that makes it so attractive? dulles airport. the international airport provides easy access to washington on its highway. dulles airport also provides connections to both internatio
we are seeing now is as the economy -- as consumer confidence does pick up as the housing market does pick up, we get more demand. and more demand is what we need to get these firms to produce even more. >> jennifer: in order to have demand you have to have people with jobs. >> no, as long as they produce -- as long as there is no demand they will produce more and they will hire more. now, remember, they have been hiring at a private sector growth now i think 36, 37 months in a row of private sector employment. a lot of the employment problem remember is the public sector. >> jennifer: yeah, for sure. >> in state and local governments. the private sector has been adding jobs. but, of course, because of technology, and because of productivity change, companies can increase their output and increase their profits employment responds more slowly. >> jennifer: well, that to me is the biggest nut to crack. >> of course. yankees public and private sectors. >> all of this should be about employment. all of it should b
in this country. theit has done nothing to stimulate jobs. it has done nothing to take our economy into a better shape. it was the bush tax cuts and the wars that drove us into this huge deficit that we have now. not the republicans' entitlements for this country and then we have neglected this country and the people of this country. we could have created jobs 10 times over. you have vets that are going to be coming back here, and where are the jobs for them? we have focused so much on these wars we got quagmired into, obama has been trying to get us out of them for the last four years. all the republicans have done for the last four years is say no, no, no to any kind of -- and obama has tried to push through bills to cut taxes for job creators, fo. host: for small businesses? caller: yes, for small businesses. host: here is reaction from senator lindsey gramm. he says this -- a republican from new jersey, go ahead. caller: i am calling in reference to this fiscal cliff. at this point, all the seniors are already in trouble. they are not going to get but a little increase. congress will automat
. in conclusion, the bill will benefit our nation's economy by helping american innovators and businesses better protect their inventions overseas. i urge my colleagues to support the legislation, and i yield back the balance of my time. the speaker pro tempore: the gentleman yields back. the gentleman from texas. mr. smith: mr. speaker, we have no other speakers on this side. i yield back the balance of my time as well. the speaker pro tempore: the gentleman yields back. the question is will the house suspend the rules and pass senate 3486. those in favor will signify by saying aye. those opposed, no. in the opinion of the chair, 2/3 having responded in the affirmative, the rules are suspended, the bill is passed, and without objection the motion to reconsider is laid on the table. for what purpose does the gentleman from texas seek recognition? mr. smith: mr. speaker, i move that the house suspend the rules and pass s. 2367, the 21st century language act of 2012. the speaker pro tempore: the clerk will report the title of the bill. the clerk: senate 2367, an act to strike the word lunatic from
that this is a self-inflicted wound on our economy, you're exactly right, our current policy. we're educating brilliant students and then compelling them to go to work in shanghai or singapore rather than san antonio or the silicon valley. meanwhile, we're handing out tens of thousands of diversity visas to immigrants chosen by a random lottery, without regard to any qualifications they might when it comes to job creation and entrepreneurship. it makes absolutely no sense. i believe we need an immigration policy that serves our national interest. and if there's one thing that we need more than anything else now is we need job creators and entrepreneurs in the united states. and we know in the -- in the global economy, it's people with the special skills in science, technology, engineering and mathematics are the ones that are going to help us create jobs and grow the economy. not just for these individuals, but for the people that are hired by the start-up businesses that they will create. the stem jobs act would mitigate the problem with the diversity lottery visa which, again, does not dist
. if you believe that? >> it's hard to imagine that the president would want to send the economy into another recession. that would be a terrible start to his second term and it would cripple the rest of the spectrum. everything else that he would want to do. it would seem a bit suicidal to do that. that being said, there is a scenario where he thinks that he might be able to quickly turn around and get tax cuts back in place. it depends on how much you think going over the fiscal cliff will affect the economy. others say it will be devastating and others say it will be back. it depends on where you stand when you are making these sort of analyses. megyn: it feels like we are left with the economy -- with people's livelihoods and growth in the country and salaries and unemployment benefits. we are just left. both sides are accusing the other of being the untethered risk taker. last night speaker boehner made remarks demanding leadership on the president. here he is. >> this is not a game. jobs are on the line. the american economy is on the line. this is a moment for adults leade
. >> increasing tax rates draws money away from the economy that needs to be invested in the economy to put people back to work. it is the wrong approach. >> reporter: bolder by his re-election, and criticized for being soft on republicans in the past, he drew a hard line, including $1.6 trillion in revenues, $600 billion in additional spending cuts, about half in medicare, and at least $50 billion infrastructure spending. >> we don't want to increase tax rates, we're not going to increase tax rates. and we want to do something about the spending problem. >> reporter: aides say senate minority leader mcconnell laughed after tim geithner showed him the offer thursday. today, confl republican goals remain the same, they say, serious entitlement reform, including higher premiums for the wealthy, and increases in the eligibility wage, with the clock ticking, both sides are working. >> all of us will have to get out of our comfort zones to make it happen. >> reporter: now also a part of the president's plan ending congressional oversight of the debt limit, one aide says it is a pipe dream. lawmakers ar
on the economy and the very people we're trying to protect would be the most affected if that happened. so i don't think it's a good idea at all to go off the fiscal cliff. >> first of all, two questions, would you be willing to work through the christmas holiday to make sure this gets done? >> absolutely. >> second question, what about foregoing any pay until you solve this problem? >> well, the problem with that is there are 535 of us and i'm willing to solve the problem and compromise. i don't want to be penalized because of somebody else. >> fair enough. congressman connolly, we thank you for being here. i take it that means you want to keep collecting your paycheck. >> i want to get something done for the american people and in congress of two years the people get to throw us out of office if we didn't do our job. >> thank you, fair enough. glad you got that cough under control. tomorrow maryland senator ben cardin will be here and talk about fiscal cliff as well at 7:00. you can send in questions to mailbag@wusa9.com or leave a post on the wusa9 facebook page. >>> if you want to blow up a
are an economy that is driven by consumer demand. i cannot think of anything that would be more guaranteed to put the economy in a recession than increasing the price of all goods and services that we purchase by 20-25%. >> host: we'll give brad on twitter the last word here. he says negotiate and simplify, let the republicans lower taxes and get rid of the amt. john buckley, thank you for your help this morning in helping us try to understand the alternative minimum tax, appreciate it. >> guest: okay, good. >> in a few moments, a discussion of house spending cuts in the so-called fiscal cliff. in a little less than an hour, more about the fiscal cliff with republican representative tom cole from oklahoma. then the head of fema testifies on capitol hill about the government's response to hurricane sandy. and later, senate debate on the u.n. treaty for the disabled. ♪ ♪ >> this weekend on c-span3's american history tv, follow harry truman easeleddest grandson to hiroshima as the city prepared to mark the bombing of the city in 1945. >> you know, everybody has their own view what happened, and
. that would be good for stimulating the economy. but the big thing is hit there needs to be a balanced plan. we need more revenue and we need less spending at the federal level. what is good for california is not good for virginia and what's good for virginia is not good for maryland. maybe we need to focus on reducing the federal government overview. been there would not be as much spending or taxes needed. then let the states deal with the taxes they need to take care of their citizens. host: robert, milwaukee, democratic caller. caller: i would like to say that the republican party, not all of them, i think it's just the tea party, they are destroying the republican party. when i saw senator dole in his wheelchair yesterday and military disabled individuals throughout the world, when they did not pass the ada treaty, which was signed in 1990 by president george h. w. bush and then it continued on with president bush and clinton and everyone else thereafter, when they did that, now i understand they are just not the party that any of us would want to be involved with. that's all i have to
paid down and start growing the economy again. that's not unusual or new to any of us. nobody in the country. so i think the president is sticking to what he said throughout the campaign and as i said 3 million more people voted for him than voted for the other guy. >> with that said, on taxes, if there's any chance on your side, is there any chance on your side to come down to the form of a smaller tax hike on incomes above $250,000 or would you consider keeping rate it is same at $250,000 and raising them only on higher incomes, say half a million or $1 million a year? >> i think it's all part of the negotiations. we know where the president is and that is 250,000. but there are a lot of democrats who voiced back before the campaign 500,000, some say even a million. all of that is going to be negotiated. the president wants 250. if mr. boehner wants to come and offer something different, i'm sure he will do that. but the president stands at 250. which is below even where i was but he won the election. so i'm going to respond to the president though it's a number diffent from
as anyone. i have sales for wal green's and cvs. that's tough to do in today's economy. $10,000. so that's why it's so interesting. look out here. of the -- almost 21 million tax returns filed, only 14 of them ended up having a tax associated with them, 425,000 were itemized. now i want you to think about that, mr. speaker. you know, most americans don't itemize on their taxes. they have the standard exemption, the standard deduction. most americans take that. even homeowners. of course, the mortgage interest deduction is the largest itemized deduction that most american families take followed by the charitable deduction. but most american families don't itemize at all. so you have to ask yourself, mr. speaker. who are the folks who are reporting under $10,000 a year in income who are doing all this itemizing? it's about 30-1. even down here among the richest of americans, mr. speaker, it's 1-1. 30-1. folks are gaming this tax code, gaming this tax code to participate not at all in the funding of our government. and when we get together here to try to think about how we take care of the
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with some ideas. to your point, you're written quite extensively on this topic. it seems the economy is poised to fall off the cliff and that's what the democrats and the president wants to happen. >> they want to allow all the bush tax cuts to expire. it happens naturally automatically. they don't even have to vote for it. in january we had to lower taxes for everybody. getting it very simply. lori: a lot of people are concerned. if we do go over the cliff, there's no resolution for the alternative minimum taxes, will not be passed that does not get resolved you have 20 million more americans who have to pay this tax otherwise wouldn't and again that could be good leverage for the republicans. how do you see that issue playing out? >> that is a big one because alternative minimum tax largely hits blue states, democratically states like maryland, new jersey, new york, connecticut, california, illinois, all of those are democratic strongholds so they can save the white house were not going to patch it unless you give us something we would like, that gives them a little bit more negot
that exploded in the open. saying that it reads like a democratic wish-list and could plunge the economy back into recession. oh joy. welcome here. i'm bill hemmer. live in "america's newsroom.". martha: good morning, bill. bill: we'll find the silver lining in this, aren't we? martha: we are. bill: that is our quest. martha: i'm martha maccallum. here are the basics when they put forth through tim geithner yesterday from the president. 1.6 trillion in new taxes. that is the opening part of the deal. 50 billion in new stimulus spending. we already had a lot of backlash in stimulus in previous packages. this is interesting element here. new executive power to raise the debt limit. that is what caused so many of these discussions because they bump up against the debt limit and not be able to go back this. there is executive power plea to be able to do that without going back to confess. republicans are saying where is the balance? where is the spending cut side of the equation. the president said he wanted it to be a balanced deal. watch. melissa: so right now all eyes are on the white house. t
and is fair. that would be good for businesses, for our economy, for future generations. i believe both parties can and will work together in the coming weeks to get that done. we know how that gets done. we're iffing to have to raise a little more revenue. we got to cut on the spending we don't need, building on the trillion dollars of spending cuts we've already made, and if we combine those two things, we can create a path where america is paying its bills while still being able to make investments and the things we need to grow like education and infrastructure. so we know how to do that, but in washington nothing is easy, so, you know, there's going to be some prolonged negotiations, and all of us are going to have to get out of our comfort zones to make that happen. i'm willing to do that. i'm hopeful that the members of congress in both parties are willing to do that as well. we can solve these problems. but where the clock is really ticking right now is on middle class taxes. at the end of the year middle class taxes that are currently in place are set to expire. middle class ta
sounds] >> if the president really wants to avoid sending the economy over the fiscal cliff he's done nothing to demonstrate it. >> we don't know who pays. we don't know what we're talking about in terms of actual legislation to increase revenues it's magic beans and fairy dust. [farting sounds] >> stephanie: all right. >> fairy dust goes very well with bourbon. >> stephanie: republicans were quick to say that boehner's plan was attracting criticism from the right particularly from jim demint of south carolina, tea party leader and as such, represented more of a compromise than obama's stance. uh no! nice try. demint said boehner's plan will destroy american jobs and allow politicians in washington to spend more. oh, please we're not falling for this. they think if they criticize the plan, oh, well it must be a good compromise then. nice try! 29 minutes after the hour. spongebob squarepants tom kenny, our buddy our pal next on "the stephanie miller show." you know who's coming on to me now? you know the kind of guys w
is concerned about uncertainty. there is no uncertainty like the prospect that the largest economy that holds the world's reserve currency potentially defaults on its debts, that we give out the basic notion that the united states stands behind its obligations. we cannot afford -- host: whil"the wall street journal." guest: the president does not want to negotiate with the republicans on the debt ceiling. that is like giving a son or daughter a credit card to do with it as they want freely. i think the president has to admit that both sides have tried to break measures and legislations to the table that would reduce the debt ceiling. the president -- look at how the deficit has quadrupled since he has been in the white house and he wants to spend more money on his special programs. it will give him a full range to spend as he likes without any kind of restriction. it would be irresponsible for republicans and democrats to give this president that kind of power. host: jeff, good morning. caller: good morning. with republicans being cornered as far as the blame, why don't the republicans just v
our local economy. >>> and when will we see the warmer weather temperatures again? any time soon? don't miss the updated first warning weather forecast with bob. >>> it's 51 degrees and clear in central maryland. the complete first warning weather forecast is coming up. >>> it's one of baltimore's favorite attractions. and support shows it is bringing in hundreds of millions of dollars into the city. wjz is live at the national aquarium do you want. christie ileto has more on what this means for the local economy. >>> a new report shows that most of the visitors are from out of town, that they spend big bucks here in the area. and that the national aquarium is their main reason for flocking to baltimore. >> reporter: for deborah hanley, when you come to baltimore, there is one place you have to go. >> the aquarium. today is my 60th birthday, and i'm skipping work to celebrate. >> reporter: that's the city's main attraction for handley and other visitors this year, according to a new report. numbers show these underwater creatures show large c
side tonight. two new signs that box is thriving, even in this economy. the and now they will at 1500 new cafes and into the united states. they are also offering a new product. a steel gift card. the costs $450. it costs you $50 to buy the card because it is made of steel. starbucks is only making 5000 of them available. >> it will embarrassment tonight for the hospital where kate middleton is currently being treated for severe morning sickness. a radio talk-show in australia prank call the hospital pretended to be the queen of england. the staff bought it. >> good morning. this is ... -- this is elizabeth speaking. >> good morning. i'm calling about kate. i want to see her tummy but is doing. -- tummy bug is doing. >> the hospital says the regret giving up a commission on kate's condition. >> i am pretty sure the queen would know the direct line to the room. >> and the nurse would know. >> bet she knows now. >> welcome back. >> thank you. great to be back. >> outside tonight a little bit of a chill in the air coming in. like it tim brant early date, isn't it? [laughter] temperatures
--they don't want the economy to get better. >> caller: you're right, stephanie. when there were enough things to happen in the campaign to indicate to me in the house of representatives or the senate that they didn't want the economy to improve. because they thought that that would be too much of a plus for the president. the country is more important. you got to go back to what mccain and obama did in september of 2008. when they came in and said to us, we're going to go off the cliff at that time. that's why we voted to bail out the banks even though many of them deserved to be kicked out. the fact is that both mccain and obama rose above the clatter of the campaign. mid-september. they voted for and supported even though they held their nose they did it. they did it. we need that same thing to happen right now to move above the political arena and make some decisions for the common good of america. >> stephanie: yep. >> caller: and help them across. i think it can be done. >> stephanie: representative. >> caller: i'm sorry. >> stephanie: go ahead. >> caller: i don't think the presid
weeks. it could send the economy spinning in directions. $1.6 trillion in tax hikes. he will travel to pennsylvania to sell it to you. republicans aren't buying it. listen to house speaker, john boehner. >> despite the claims the president supports a balanced approach, the democrats have yet to get serious about real spending cuts. >> democrats are firing right back at boehner. harry reid getting a little personal. >> i don't understand his brain, so you should ask him. okay? >> ouch. athena jones live from washington. same old same old. where do we go from here? >> that's the big question. the nice talk after the election is pretty much gone away. you mentioned one of the big sticking points, that's taxes. republicans and democrats can't agree on how to raise the tax revenue? end the bush tax cuts for the wealthy, close the loopholes, raise the capital gains taxes or all of the above. right now, they can't agree on how much money should be raised on the revenue side. let's listen to more from harry reid about the democrats stance on this. >> we are ready to protect middle class fam
that's wa ood for the american economy is that a group of republicans weade they're going to block e's increase in tax rates on wealthy americans. >> reporter: geithner says he's optimistic a deal is possible. even as a key negotiator tells bs news the deadline to reach 15tromise is december 15th. e foress needs time for the rocessative process to work. to the house and senate to pass presidentnd for the president to sign it by december 31st. >> right now i would say we're eportee. period. we're nowhere. >> reporter: calling the president's plan to avert the asking fiff a nonserious proposal. th ohe president is asking for $1.6 trillion worth of new revenue over ten years. twice as much as he's been asking for in public. excee stimulus spending in here wast exceeded the amount of new not ahat he was willing to consider. it was not a serious offer. > i think we're going over the cliff. it's pretty clear to me they've ode a political calculation. this offer doesn't remotely deal with entitlement reform and a way to save medicare and medicaid and social security from imminent bankruptcy
have quit taking the economy with it. providing the backstop for mortgage credit when public services flee from the market has a cost. the losses at f.h.a. to stem from the new now prohibited down payment program, heavy losses in the first mortgage program, and losses -- loans made at the height of the crisis to prevent a collapse of the housing market. while they have already taken action to pretext the financial mortgage fund for single family loans from seeking federal funds, the f.y. 2012 report suggests that much more needs to be done to prevent such a draw. i want to hear more today about the administration's actions and proposals to minimize the risk to taxpayers stemming from their business and what safeguards are in place to ensure the quality and sustainability of the program. if the administration's actions and proposals will not be sufficient to restore f.h.a.'s fiscal health, i'm inclined to work with my colleagues on both sides of the aisle on the banking committee to find a bipartisan way to make shoo -- that happen. before i turn to ranking member shelby, i want to rec
and bigger government regardless of the impact on jobs and economy and america's standing in the world. >> gretchen: who could the fiscal cliff jumpers be. matt is editor in chief of the washington weekend. he's my guest. good morning. >> good morning. >> gretchen: who wants to go off of the cliff and die. >> buckle your seat. important senator is patti murray in charge of the democrat campaign committee. she got put in the position thinking it was not a good year for democrats and she turned into one. that gave her clout in the democratic caucus. when she gave a speech saying we could make a more liberal deal if we go off the cliff democrats started listening. >> gretchen: senator harry reid want to go off the cliff. >> he's playing the double game. he want to look like a deal make yer support the president. but so many democrats have a strange idea of compromise. it is all right. give me everything and i will do nothing. what we are seeing from the democrats, republicans you cave on taxs and revenue and we'll not cut entitlements at all. that is not a good deal and suggests that more
: ♪ ♪ moving our economy for 160 years. bnsf, the engine that connects us. and by the alfred p. sloan foundation. supporting science, technology, and improved economic performance and financial literacy in the 21st century. and with the ongoing support of these institutions and foundations. and... this program was made possible by the corporation for public broadcasting. and by contributions to your pbs station from viewers like you. thank you. >> woodruff: with 25 days left until the year-end fiscal cliff, and just 19 days until christmas, president obama warned lawmakers today not to add to the holiday pressures americans already feel, by letting the political stalemate drag on. but he also again insisted there would be no deal unless tax rates went up on the wealthy. >> the closer it gets to the brink, the more stressed we're going to be. >> woodruff: president obama made the short trip to northern virginia today to underline his plan to avert the fiscal cliff. at the home of what the white house called a typical middle class family, mr. obama said he's optimistic that agreement ca
. republicans have to lead it because immigration is about growing the economy. >> secretary gutierrez, we know that you started that new super pac, republicans for immigration reform. we'll see how these ideas are accepted as we move into 2014 and to 2016. thank you for speaking with us this morning. >> thank you very much, sir. much more on our focus ahead. what about the women. the gop misses the mark with candidates, and we'll check in with that in the 10:00 hour. >>> israel wants to build more settlements in disputed territory. >>> hello. >> plus, how this little robot is making big strides in helping children with learning disabilities. there's big news. presenting androgel 1.62%. both are used to treat men with low testosterone. androgel 1.62% is from the makers of the number one prescribed testosterone replacement therapy. it raises your testosterone levels, and... is concentrated, so you could use less gel. and with androgel 1.62%, you can save on your monthly prescription. [ male announcer ] dosing and application sites between these products differ. women and children should avoid co
in eligibility standards and the struggling economy for the new trend. >>> you called it a roller coaster lynette. warm a few days ago, this morning when i walked outside. uh-huh. >> did you have the coat? >> no. >> you didn't bring your coat? >> what's wrong with you? >> i didn't want to go back in and get the coat. i'll suffer. >> okay, don't do what charlie did people. you want the coat this morning. he is not a good example whatsoever. make sure you layer yourself as you head out the door this morning and we have lots of sunshine though throughout the day. temperatures really dropping off this morning. because we don't have any type of cloud cover. no type of weather to talk about. if you want the weather you have to head back over towards the midwest because you're getting some rain and snow across michigan this morning: and also wisconsin and we're dealing with some wet weather and also this will continue as we go through time and that area. but we're not going to be dealing with that today. we'll be dealing with lots of sunshine to the bus this morning. 31 degrees the sun is not going to w
and not working out. >> reporter: with the economy and large chain stores it's been harder to compete and it doesn't make any sense to stay open anymore. >> steven's hardware. >> reporter: that greeting will soon not be heard. she's a local gal, born five blocks from here and moved two blocks closer when she got married. >> so i don't burn much gasoline. >> reporter: over20 family members have worked here over the years. >> all the people in my family. >>
went off the cliff it would have substantial adverse effects on the economy. nobody wants to go over the cliff. including, in my opinion, john boehner. however, we ought not to hold hostage middle-class tax cuts, and that's what you're talking about, tom cole, that wasn't a question of compromise, it was simply to say, look, we all agree that middle-class tax rates ought not to get a tax increase on january 1st. not good for them. not good for the economy. we'll pass that. the senate's passed a bipartisan bill that called for that. tom cole the former chairman of the republican campaign committee in the house of representatives said just earlier this week we'll all pass that. i agree with him. secondly, the republicans have agreed that we need to have some sort of balance, more and more republicans are saying we need to have revenues. you cannot do it simply with cutting spending. thirdly, i don't think that anybody wants to hurt the vulnerable in america. >> no, i think -- but the question, the question here is, is on the issue of taxes for instance. the president proposed tax cuts
orleans hit man hired to track them done to kind of restore order to the criminal economy here. corporate america overtones here. political overtones as well. an interesting movie. and brad pitt smelling like chanel no 5 throughout the thing. take a listen. >> i am going to drop a dime on a couple cops, who are going to take you back to where you are supposed to be. >> oh, yeah? >> no more booze, nothing. get yourself a shower. go to bed. i will get you up and tell you where to be. >> i don't take orders from you! >> 7:30. get some sleep. >> i miss the sopranos. only criticism i heard so far the themes are not handled subtly by the director. beats the point over the head a little bit. but brad pitt getting pretty good reviews for this one. >> i'll be check it it out, you know. >>> well, from contract killers to serial killers, the next flick is called "the collection." it's about a man who escapes from the vicious grips of the serial killer known as the collector. this man is blackmailed to rescue an innocent girl elena from the killer's booby trapped warehouse, kidnapped from a club. tak
news conference. fired back with this. >> increasing tax rates draws money away from our economy that needs to be invested in our economy to put the american people back to work. it's the wrong approach. >> as the rhetoric heats up, the clock continues to tick down. after today, there are just ten legislative days on the calendar. the house announced they will be recessing one day early next would he week. joining me now from the white house, white house correspondent kristen welker. what's the latest from 1600 pennsylvania? >> well, good afternoon, craig. as you can see the holiday decorations are going up here at the white house. but it doesn't seem like anyone is in the holiday spirit. in fact, house speaker john boehner today said that these negotiations are essentially in a stalemate. president obama as you know hit the road, went to hatfield, pennsylvania to take his case to the people of pennsylvania. trying to put pressure on republicans to get on board with his plan to increase taxes on the wealthiest americans. he made his case at a toy maker there and exceptionally sai
to the clinton levels, a time when the american economy is doing exceptionally well, then there will not be an agreement. >> but house speaker john bigger is digging in himself, admitting talks are going nowhere. speaker boehner also described the moment when secretary geithner first showed him the president's opening offer. >> i was just flabbergasted. i looked at him and said, "you can't be serious." i've just never seen anything like it. you know, we've got seven weeks between election day and the end of the year. and three of those weeks have been wasted with this nonsense. right now i would say we're nowhere, period. we're nowhere. we've put a serious offer on the table by putting revenues up there to try to get this question resolved. but the white house has responded with virtually nothing. they've actually asked for more revenue than they've been asking for the whole entire time. >> what are the chances we're going to go over the cliff? >> there's clearly a chance. >> lindsey graham said the same thing yesterday, michael steele. he said he thinks we are going
for the next many years. the amazing work you did with all of us on fuel economy standards and enforcing the clean their act, which i just want to say unfortunately those two are not candidate dress. if they were here, i would address them. colleagues here and others stopped many who try to roll back the clean air act as it pertained to missions coming from utility and other polluters. i was critical because we want to be much more direct. i don't speak for anybody else on how we approach this. i just feel people have to understand that the promise that we made and we have initial studies show the progress we've made only because we fight so hard rolling back of my colleagues on the other side but the environmental writer after environmental writer. and if they don't see from superstore and sandy, the future if we just go along, i am very disturbed for our children and our grandchildren. i just want to thank you, senator whitehouse for your amazing leadership day after day. people don't know every time they see me. i so agree with you and with your determination. rhode island is very det
been sittingr hands on the sidelines in an increasingly global and dynamic economy. this is the first administration actually since f.d.r. not to ask for the ability to negotiate trade agreements using expedited procedures. and this is something unique, trade promotion authority in order to negotiate agreements. this administration has yet to even ask for it over the last four years. last year we finally passed the korea, panama and colombia export agreements. hopefully our bipartisan actions today to boost exports to russia will signal a new chapter, for us to engage as a congress and with the administration in a much more ambitious and proactive trade policy. i'm pleased this bipartisan bill received such broad support from republicans and democrats in the house, getting 365 votes, and i urge my colleagues on both sides of the aisle to now support this legislation before us. thank you, madam president. i yield the floor. a senator: madam president? the presiding officer: the senator from michigan is recognized. mr. levin: madam president, i understand now under the existing unanimou
of vehicles from new jersey to new york city, was flooded. computation is an important part of the economy and culture in that region. the damage to our highways, transit system caused severe congestion stranding new jersey and creating delays for miles. transportation in new jersey has an impact on more than just new jersey residents. sandy affected anyone who rides our rail for drive through our state or uses products. i will be working with this committee to rebuild new jersey's transportation infrastructure to make it stronger and more resilient in addition to our infrastructure in at least two cases. flooding from sandy damage the superfund sites, leading to potential release of toxic pollution into the environment. i have a letter on the way to the epa to conduct a thorough investigation of the storm's impact on sites throughout the region and i am also introducing superfund emergency response requests which requires the epa to perform an assessment of superfund sites following any natural disaster and allows congress to appropriate emergency funding to remediator any damage, also re
will be on the economy. just to be clear -- >> it's about getting real about where we are and what's going on here. not deluding yourself about that. >> i agree. but we shouldn't get deluded about things like the impact it's going to have on december spending, too, karen. remember we're talking about 2013 taxes, not 2012 taxes. but if americans are taking out loans based on what their tax return is going to be in april maybe we should be talking about financial literacy and not about how budgeting works. >> we can but i'm just trying to tell you realistically that's how people are living their lives in the united states of america in the 21st century. so we need to be real about how people are living their lives. >> you know what, one thing i do want to talk about, i'll begin with you tony on this. i'm sure you saw that photo making the rounds this week of house committee chairmen? what is that all about. they're all white males. speaker boehner now said he was indeed appointing a female chair congresswoman, candice miller. this committee is in charge of things like the house cafeteria, expense ac
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